The anti-money laundering guidance for Art Market Participants (AMPs) has been published.

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The new rules (applying the 5th Money Laundering Directive known as 5MLD) took effect on January 10 but the 111-page guidance (109 pages of text) has only just been released today.

The new law applies to ‘Art Market Participants’ (AMPs) – auction houses, dealers or anyone trading in or acting as an intermediary in the trade of works of art that sell for above the €10,000 threshold.

The guidance is designed to help AMPs meet their obligations for money laundering supervision, including customer due diligence, record keeping and reporting suspicious activity.

HMRC, the Treasury, The British Art Market Federation (BAMF) and its trade association members worked together to produce the document.

Download the 111-page art market participants guidance on anti money laundering supervision here.